Meritage Homes Corp (N:MTH)

Business Focus: Residential Builders - Single Homes

Sector:  Consumer Cyclicals Industry:  Homebuilding
 
See Regulatory Filings on SEC
Company Contact
Address: 18655 North Claret Drive, Suite 400
SCOTTSDALE AZ 85255
Tel: 1-480-5158979
Website: https://www.meritagehomes.com
IR: See website
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Key People
Steven J. Hilton
Executive Chairman of the Board
Phillippe Lord
Chief Executive Officer, Director
Hilla Sferruzza
Chief Financial Officer, Executive Vice President
Clinton Szubinski
Chief Operating Officer, Executive Vice President
Javier Feliciano
Chief People Officer, Executive Vice President
Malissia R. Clinton
Executive Vice President, General Counsel, Secretary
Business Overview
Meritage Homes Corporation is a designer and builder of single-family attached and detached homes. Its segments include Homebuilding and Financial Services. The Homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services. The Financial Services segment offer title and escrow, mortgage, and insurance services. It has operations in three regions: West, Central and East, which are comprised of 10 states: Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee. These three regions are its principal homebuilding reporting segments. Its homebuilding activities are conducted under the name of Meritage Homes in each of its homebuilding markets. It also operates Carefree Title Agency, Inc., its wholly owned title company, which provides title insurance and closing/settlement services to its homebuyers in certain states.
Financial Overview
For the fiscal year ended 31 December 2023, Meritage Homes Corp revenues decreased 2% to $6.14B. Net income decreased 26% to $738.7M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects General and administrative expenses increase of 20% to $231.7M (expense), Net earnings of unconsolidated entities increase from $6M (income) to $656K (expense).
Employees: 1,838 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $6,433M as of Dec 31, 2023
Annual revenue (TTM): $6,138M as of Dec 31, 2023
EBITDA (TTM): $976.33M as of Dec 31, 2023
Net annual income (TTM): $738.75M as of Dec 31, 2023
Free cash flow (TTM): $277.85M as of Dec 31, 2023
Net Debt Last Fiscal Year: $86.99M as of Dec 31, 2023
Shares outstanding: 36,169,394 as of Feb 7, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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